Automatic Speech Recognition (ASR) is a crucial technology that converts spoken language into written text, significantly impacting various business applications like voice assistants and transcription tools. While traditional ASR systems relied on a multi-model approach using acoustic, lexicon, and language models, which required extensive phonetic training and were less accurate, modern ASR models employ end-to-end deep learning architectures that offer superior accuracy, scalability, and adaptability to different languages and accents. These modern systems, exemplified by models like OpenAI's Whisper seq2seq, utilize advanced neural networks to efficiently process and transcribe audio data, overcoming many limitations of legacy systems. When selecting an ASR model for specific business needs, factors such as word error rate, operating environment, and input audio characteristics should be considered to ensure optimal performance and user experience.